Apple, Samsung hoard all the smartphone profits

Every penny of profits in the smartphone hardware business belonged to Apple and Samsung Electronics in the first quarter, according to a report from the Canaccord Genuity research firm, which shows Samsung is rapidly gaining on its rival. Apple held 57% of the industry's black ink, compared with 74% a year ago, as Samsung's share of the profits climbed from 26% to 43%. Analysts believe that the popularity of Samsung's new Galaxy S4 could catapult the company past Apple in the current quarter.

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